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SAFE Network Review

Review of SAFE Network powered by the Slant community.

The SAFE Network is a secure and fully decentralised data management service. The network is made up from the unused computer resources provided by the individual network users.

Each user of the SAFE Network provides a small part of their computer resources; hard-drive storage, CPU power, and bandwidth. This local resource is called a Vault. Each Vault is cryptographically secure and connects to other Vaults throughout the network.

The user's data is encrypted and broken up into chunks. These chunks are then distributed around other Vaults in the network. At no point do any of the other Vaults know anything about the data they have been asked to store other than anonymous network address information.

The result of the encryption and network-wide distribution of information is a highly secure and private data management and communication experience for all users.

The SAFE Network also supports applications and programs that can be accessed by network users. These applications may be free to use or paid for by using safecoins.

Safecoin is the currency of the SAFE Network and is the oil of the SAFE Network engine. This digital token can only exist on the SAFE Network and incentivises desirable behaviour. Users can earn safecoins by providing resource to the network. Similarly, application developers can earn safecoin by creating applications. Safecoins can be traded for any type of network service, or converted to other crypto currencies or traditional fiat currencies, after decentralised exchanges appear.

As the SAFE Network grows, it is anticipated that the value of the limited safecoins will grow. Safecoins are only generated by the network based on how much it is used, ensuring no over supply. Initially safecoin will be the only currency on the network and this utility will help to further drive it's value.

Pro

Fully anonymous cryptocurrency

Safecoin is the cryptocurrency of the SAFE (Secure Access For Everyone) network. There is no global ledger in the SAFE network that tracks transactions like with block chain technology. Safecoin is LITERALLY digital cash... each safecoin holds a current owner and previous owner and nothing more.